Mitsubishi Motors Philippines Corp. (MMPC) and Security Bank Corp. formed a new joint venture, Mitsubishi Motors Finance Philippines Inc. which will serve as a strategic buffer against potential trade disruptions and market distortions stemming from evolving global tariff regimes.
The joint venture, launched on Friday, seeks to strengthen vehicle financing capabilities by offering more flexible and accessible auto loan options to Filipino consumers.
Both companies said the move would help cushion the impact of external shocks such as shifting import duties and trade policies.
“In any environment of uncertainty, including changes in tariffs, what matters to customers is how much they pay each month,” Security Bank president and chief executive Sanjiv Vohra said in a press briefing during the launch.
“Since 70 percent of vehicles in the Philippines are financed, this JV allows us to respond quickly through customized financing packages that absorb part of the volatility,” he said.
Vohra said the partnership enables the manufacturer and financier to work in sync, adjusting to pricing or policy shifts without passing the full burden on to consumers.
“It gives us the agility to maintain demand, even when macroeconomic or trade-related factors come into play,” he said.
MMPC president and chief executive Satoshi Nakano said the zero-percent tariff recently announced for car imports between the US and the Philippines is still under review, with little immediate effect expected on the domestic market.
“At this stage, US-sourced vehicle imports remain very limited. Most American brands like Ford bring in units from Thailand, which already enjoys trade advantages,” Nakano said.
He noted that in the long term, if global supply chains shift or tariffs change, strong, integrated financing capabilities would be essential to staying competitive.
Nakano said that while the full impact of the new tariff terms remains uncertain, the company is preparing for multiple scenarios.
“Through this joint venture, we are enhancing our resilience. We’re not just selling cars, we’re making ownership more accessible and sustainable even in the face of future trade distortions,” he said.
Mitsubishi Motors Finance Philippines will offer competitive rates, simplified processing and integrated digital tools, all designed to improve customer experience and market adaptability in a rapidly evolving economic landscape, the companies said.
